Help with 9.09-9.14

I See The Light Projected Income Statement For the Period Ending December 31, 20x1 $ 1,125,000.00 750,000.00 $375,000.00 Sales 25,000 lamps @ $45.00 Cost of Goods Sold @ $30.00 Gross Profit Seling Expenses Fixed Variable (Commission per unit) @ $3.00 Administrative Expenses: Fixed Variable @ $2.00 Total Selling and Administrative Expenses: Net Profit $ 23,000.00 75,000.00 $ 98,000.00 $ 42,000.00 50,000.00 92,000.00 190,000.00 185,000.00 $ I See The Light Projected Balance Sheet As of December 31, 20x1 $ 34.710.00 67,500.00 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 8,000.00 500 @ $16.00 0 3000 @ $30.00 90,000.00 $ 200,210.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets $ 20,000.00 6,800.00 $ 13,200.00 213,410.00 $ $ 54,000.00 54,000.00 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Eamings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 12,000.00 147.410.00 159.410.00 $ 213,410.00 2776 3 4 PART 3 Budgets 5 6 7 8 Division N has decided to develop its budget based upon projected sales of 39,000 lamps at 9 $49.00 per lamp. 13 The company has requested that you prepare a master budget for the year. This budget is to be used 14 for planning and control of operations and should be composed of: 15 16 1. Production Budget 17 21 2. Materials Budget 22 23 3. Direct Labor Budget 24 25 4. Factory Overhead Budget 29 30 5. Selling and Administrative Budget 31 32 6. Cost of Goods Sold Budget 33 37 7. Budgeted Income Statement 38 39 8. Cash Budget 40 41 Notes for Budgeting: 45 46 47 The company wants to maintain the same number of units in the beginning and ending inventories of 48 work-in-process, and electrical parts while increasing the inventory of Lamp Kits to 750 pieces and 19. decreasing the finished goods by 20%. 53 54 Complete the following budgets 65 56 1 Production Budget 57 51 Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less: Beginning Inventory 39000 2400 41400 3000 Total Production 38,400 units 2 Materials Budget Lamp Kits Needed for Production Desired Ending Inventory Total Needed Less: Beginning Inventory Total Purchases Cost per plece Cost of Purchases (Round to two places, $####) 38,400 units 750 units 39,150 units 500 units {8.01) {8.02) (8.03) (8.04) $ S 17.04 658,596.00 (8.05) (8.06) 3 Direct Labor Budget Labor Cost Per Lamp Production Total Labor Cost (Round to two places, $####) $ {8.07) 2.06 38,400 units 79.104.00 $ {8.08) 4 Factory Overhead Budget Variable Factory Overhead: Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places, $####) Faced Factory Overhead 38,400 units 79104 $ 280,000.00 (8.09) (8.10) Total Factory Overhead (Round to two places, $###) 359104 $ 359,104.00 (8.11) D E Factory Overhead Budget F G H Overhead Allocation rate based on: 1. Number of Units Total Factory Overhead/Number of Units (Round to two places, $####) 38400 $9.35 (9.01) Cost of making one unit next year Cost of one Lamp kit Labor Cost Per Lamp Factory overhead per unit 17.04 $2.06 (9.02) 9.35 Total cost of one unit (Round to two places, S####) $ 28.45 (9.03) 6 Selling and Admin Budget Fixed Selling Variable Selling (Round to two places, $#### Fixed Administrative Variable Administrative (Round to two places, $#### Total Selling and Administrative (Round to two places, $#$#) 3..11 39000 (9.04) 41000 $121,290.00 58000 82,290.00 302,580.00 2.11 39000 $ $ (9.05) (9.06) Goods 7 Sold Round dollars to two places, S#### $ 90,000.00 (9.07) Budget- Beginning Inventory. Finished Goods Production Costs: Materials: Lamp Kits: Beginning inventor Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used In Production $ $ $ $ $ 500.000 36,650.000 37,150.000 12,780.00 24,370.000 (9.08) Total Materials Labor Overhead Cast of Goods Available Loss Ending Inventory. Finished Goods Cost of Goods Sold 654336 $ $ 79,104.00 359,104 00 (9.09) (9.10) (9.11) (9.12) (9.13) (9.14)